2018May30 EURJPY M15 Bearish Bat

May 30, 2018

There is a bearish bat for EURJPY. D completion is at 126.344. Please note that this setup is invalidated with a candlestick closing above 126.234 (88.6 of XA). I am placing a sell limit at that price. Stop loss is just above point X. The take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. If price goes to TP1 before the pending order is triggered, then I will cancel this setup.

Trade Setup: Bearish Bat
Price Entry 126.234
SL 126.429 | SL pips 19.5
TP1 125.686 | TP1 pips 54.8
TP2 125.279 | TP2 pips 95.5
TP3 124.621 | TP3 pips 161.3
RRR1 2.81 | RRR2 4.90 | RRR3 8.27

May 31, 2018

Note

This setup is canceled as price did not reverse at the potential reversal zone. There was a candlestick which closed above 126.234. (May 30)